This study is a multigroup path analysis aiming to create a theoretical model of presenteeism among female workers in the health and social work sectors, assess the mediating effects of mental health problems (sleeping trouble and psychological wellbeing), and physical health problems (fatigue and muscle aches) on the relationship between work characteristics (demands at work and social community at work) and presenteeism, and identify the differences between the effects of variables on those who reported low work–life imbalance and high work–life imbalance. Raw data from the fifth Korean Working Conditions Survey (KWCS) were analyzed. From the total sample of 50,205 people, 2209 women in health and social work were included in the study sample. The results were as follows: the demands at work had a significant and positive indirect effect on presenteeism (B = 0.0023, p < 0.001), mediated by trouble sleeping, fatigue, and muscle aches, in that order. Demands at work were also found to have a significant and negative indirect effect on presenteeism (B = −0.0017, p < 0.001), mediated by psychological wellbeing, fatigue, and muscle aches, in descending order. Social community at work had a significant and negative indirect effect on presenteeism (B = −0.0022, p < 0.001), mediated by trouble sleeping, fatigue, and muscle aches, in that order. Social community at work also had a significant and negative effect on presenteeism, mediated by psychological wellbeing, fatigue, and muscle aches, in descending order (B = −0.0097, p < 0.001). Demands at work did not have a significant effect on psychological wellbeing in the low work–life imbalance group, whereas its effect was significant and positive (β = 0.198, p < 0.001) in the high work–life imbalance group. In conclusion, in the path model of the low work–life imbalance group, demands at work did not influence psychological wellbeing. Therefore, strategies to ameliorate work–life imbalance may be helpful components of interventions to reduce presenteeism.